Just number 7 neededHomework Answers
Calculate amount of finished goods inventory
| Direct material (30000-6000) | 24000 |
| Direct labor | 145000 |
| Overhead applied (145000*150%) | 217500 |
| Total manufacturing cost | 386500 |
| Less: Ending work in process | -115000 |
| Value of cost of finished goods | 271500 |
journal entries
| No | Account and explanation | debit | credit |
| 7. | Finished goods inventory | 271500 | |
| Work in process inventory | 271500 | ||
| (To record cost finished goods transferred) |
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Just number 7 needed
Fort Corporation had the following transactions during its first month of operations:...
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Question 18 Crawford Corporation incurred the following transactions. 1. 2. 3. 4. 5. 6. 7. 8. 9. Purchased raw materials on account $53,000. Raw Materials of $41,800 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,700 was classified as indirect materials. Factory labor costs incurred were $60,500, of which $50,600 pertained to factory wages payable and $9,900 pertained to employer payroll taxes payable. Time tickets indicated that $54,800 was direct labor and $5,700 was...
Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2....
Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2. Raw Materials of $45,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,400 was classified as indirect materials. 3. Factory labor costs incurred were $65,400, of which $50,200 pertained to factory wages payable and $15,200 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,000 was direct labor and $10,400 was indirect labor. 5. Manufacturing overhead...
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Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $52,800. 2....
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Exercise 15-7 Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $51,000. 2. Raw Materials of $42,300 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,800 was classified as indirect materials. 3. Factory labor costs incurred were $66,200, of which $50,600 pertained to factory wages payable and $15,600 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,000 was direct labor and $11,200 was indirect labor. 5. Manufacturing overhead...
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